In Wednesday’s session, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) marked $42.62 per share, up from $42.50 in the previous session. While Ultragenyx Pharmaceutical Inc. has overperformed by 0.28%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RARE fell by -40.85%, with highs and lows ranging from $85.53 to $33.36, whereas the simple moving average fell by -15.57% in the last 200 days.
On January 18, 2023, Canaccord Genuity started tracking Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) recommending Buy. Robert W. Baird also Upgraded RARE shares as ‘Outperform’, setting a target price of $50 on the company’s shares in a report dated November 03, 2022. Evercore ISI August 01, 2022d its ‘Outperform’ rating to ‘In-line’ for RARE, as published in its report on August 01, 2022. Credit Suisse’s report from March 16, 2022 suggests a price prediction of $105 for RARE shares, giving the stock a ‘Outperform’ rating. JP Morgan also rated the stock as ‘Overweight’.
Analysis of Ultragenyx Pharmaceutical Inc. (RARE)
Further, the quarter-over-quarter increase in sales is 11.20%, showing a positive trend in the upcoming months.
Ultragenyx Pharmaceutical Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -94.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and RARE has an average volume of 767.43K. On a monthly basis, the volatility of the stock is set at 6.16%, whereas on a weekly basis, it is put at 6.98%, with a loss of -1.91% over the past seven days. Furthermore, long-term investors anticipate a median target price of $92.72, showing growth from the present price of $42.62, which can serve as yet another indication of whether RARE is worth investing in or should be passed over.
How Do You Analyze Ultragenyx Pharmaceutical Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 97.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RARE shares?
The recent increase in stakes in RARE appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in RARE has increased by 0.46% in the first quarter. The company now owns 6,067,559 shares of the stock, with a value of $281.11 million, following the purchase of 27,783 additional shares during the last quarter. Wellington Management Co. LLP made another increased to its shares in RARE during the first quarter, upping its stake by 36.96%. During the last quarter, the company dropped down 1,631,598 additional shares for a total stake of worth $280.11 million, bringing number of shares owned by the company to 6,046,038.
During the first quarter, T. Rowe Price Associates, Inc. subtracted a -6,023,200 position in RARE. BlackRock Fund Advisors purchased an additional 52010.0 shares in the last quarter, increasing its holdings by 1.69%, now holding 3.12 million shares worth $144.73 million. At the end of the first quarter, Federated Global Investment Manag decreased its RARE holdings by -18.81% and now holds 3.09 million RARE shares valued at $143.37 million with the lessened -0.72 million shares during the period. RARE shares are owned by institutional investors to the tune of 97.80% at present.